- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
(1)The Treasury may request a designated person to provide information concerning—
(a)funds or economic resources owned, held or controlled by or on behalf of the designated person, or
(b)any disposal of such funds or economic resources.
(2)The Treasury may request a designated person to provide such information as the Treasury may reasonably require about expenditure—
(a)by or on behalf of the designated person, or
(b)for the benefit of the designated person.
(3)The power in subsection (1) or (2) is exercisable only where the Treasury believe that it is necessary for the purpose of monitoring compliance with or detecting evasion of this Part.
(4)The Treasury may request a person acting under a licence granted under section 17 to provide information concerning—
(a)funds or economic resources dealt with under the licence, or
(b)funds, economic resources or financial services made available under the licence.
(5)The Treasury may request any person in or resident in the United Kingdom to provide such information as the Treasury may reasonably require for the purpose of—
(a)establishing for the purposes of this Part—
(i)the nature and amount or quantity of any funds or economic resources owned, held or controlled by or on behalf of a designated person,
(ii)the nature and amount or quantity of any funds, economic resources or financial services made available directly or indirectly to, or for the benefit of, a designated person, or
(iii)the nature of any financial transactions entered into by a designated person,
(b)monitoring compliance with or detecting evasion of this Part, or
(c)obtaining evidence of the commission of an offence under this Part.
(6)The Treasury may specify the manner in which, and the period within which, information is to be provided.
(7)If no such period is specified, the information which has been requested must be provided within a reasonable time.
(8)A request may include a continuing obligation to keep the Treasury informed as circumstances change, or on such regular basis as the Treasury may specify.
(9)Information requested under this section may relate to any period of time during which a person is, or was, a designated person.
(10)Information requested under subsection (1)(b), (2) or (5)(a)(iii) may relate to any period of time before a person became a designated person (as well as, or instead of, any subsequent period of time).
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Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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